Home / Ports / Essar Ports Posts Record Cargo growth of 20.07% in H1FY20

Essar Ports Posts Record Cargo growth of 20.07% in H1FY20

Mumbai:

Port Wings News Network:

Essar’s Ports business, which operates four terminals on the east and west coasts of India, has registered a 20.07% growth in cargo volumes with a throughput of 27.29 Million Tonnes (MT) in the first half of FY2019-20.

According to a media statement, the growth has been driven by a 183.21% increase in third-party cargo compared to that in the corresponding period in the previous financial year. Cargo from captive customers grew by 6%.

Speaking on the performance, Mr Rajiv Agarwal, MD & CEO, Essar Ports Ltd, said: “Significant boost in third-party business has been the key driver for our growth in overall volumes. Alongside this, our focus on driving operational efficiencies and minimising operating costs has helped in recording strong growth. Essar Ports has consistently surpassed the average growth rate of the sector, which is showing signs of heightened economic activity.”

Terminal-wise performance

Hazira — The 50 MTPA terminal has handled 14.17 MT cargo with 3.24% growth compared to the same period last year. The terminal registered 24.46% growth in third-party business over the numbers in H1FY19.

Vizag

The 24 MTPA Essar Vizag Terminal (EVTL), India’s largest iron ore handling terminal located on the outer harbour of Visakhapatnam Port, has handled 5.91 MT cargo with 52.22% overall growth compared to same period last year. It recorded 7.17% growth in anchor customer business. Besides, 277.76% growth in third-party business over the numbers in H1 FY19.

Paradip

The 16 MTPA Essar Bulk Terminal Paradip (EBTPL), in Paradip Port, has clocked a cargo throughput of 4 MT in the first half of FY20.

About Admin

Check Also

Jawaharlal Nehru Port Trust Observes 70th Constitution Day

Mumbai: Port Wings News Network: Jawaharlal Nehru Port Trust (JNPT), India’s premier container port celebrated …

Leave a Reply